@misc{11039,
title = {Credit, Labor Informality and Firm Performance in Colombia},
author = {Caro, Lorena and Galindo, Arturo and Meléndez Arjona, Marcela},
year = {2012},
doi = {10.18235/0011386},
abstract = {This paper explores the links between labor formality, access to credit and firm performance in Colombia using Annual Manufacturing Survey data for the period 2000-2009.  A significant though small relationship is found between access to credit and informality.  The results suggest that a 10 percent increase in the ratio of credit to sectoral output increases labor formality between 0. 76 and 1. 14 percentage points.  This effect vanishes as a firm's financial constraint increases.  The paper also reports a strong correlation between labor formality and firm performance measured as output and employment growth.  A one percentage point increase in labor formality is associated with an 8. 5 percent increase in output and an 11 percent increase in employment growth.},
url = {https://doi.org/10.18235/0011386}
}